What Kind of Saver Are You?

Find out below, courtesy of an email I got from South State Bank – a bank I’ve never heard of until today (based in NC, SC and GA) but whom I now like for helping keep this stuff fun :) It doesn’t take much! Haha…

Here we go:

#1. The Magician

The moment money falls into the Magician’s hands it seems to disappear. These people are more focused on the here and now than planning for what’s down the road. (AKA old J$).

They recommend savers who fall into this category use an app like Mint or Slice to track spending as you might learn you’re sending money to places that aren’t actually that high on your priority list. This in turn helps you make better decisions going forward, and hopefully gets you more excited about saving better as well.

I hadn’t heard of Slice before, but apparently it’s an app to help track your shopping better that also gets you money back when items you’ve ordered drop over time. Kinda like Paribus which we’ve covered (and love!) here on the site. If anyone’s using them, would love to hear how it’s going?

#2. The Salt + Pepper

Salt + Peppers pay attention to their finances, but lost quarters in the couch doesn’t cause them to lose sleep. They add a dash of money into their savings when they can, but there is room for improvement.

South State recommends small, but clear goals so you can quickly see how savings pays off. Pick a purchase you’ve been lusting after like a new TV, and decide how much you’ll put towards that purchase weekly for the next few months. Building up savings and rewarding yourself will get you excited to do it more and on a bigger scale.

I agree on the excitement levels (almost everything I do with money is based on my emotions!), but I do hope you’re saving for something sexier than TVs :) They also shot over the following “golden rule of spending” breakdown too which is always interesting to see:

It would be even better if some of the percentages were swapped a bit, but hey – not all of us can budget like Angelina Jolie. It’s a great foundation to strive for, especially when you’re first starting out.

#3. The Rock Star

The Rock Star never spends without a good reason. They are in total control of their finances and manages their money to the last cent. But while managing your budget is a great first step, South State recommends talking to your banker or another financial advisor you trust about stepping up your game even more. And by “banker”, they probably mean personal finance blogs :)

#4. The Goalie

For the Goalie, it’s all about the end game. Having a specific goal is what inspires them to boost their savings plan, and whatever the goalie is saving for, it’s keeping them focused – which is great! So long as you’re looking long-term too. Saving for a car or house are worthy, big goals, but make sure you’re thinking ahead and planning for retirement as well.

So which describes you the most?

Are you a Magician, Salt + Pepper, Rock Star, or Goalie?

Personally, I flip flop between Salt + Pepper and Goalie. I don’t like tracking my expenses down to the last penny (I’m okay with 80% good!), but at the same time I also don’t spend willy nilly and do my best to be mindful of where I send my money. I also work much better when big goals are implemented, else I just end up saving a little here and there and going wherever the flow takes me… which is usually not anywhere near financial independence :)

This is why I have my one main goal I need to hit every single year no matter what! Without it, I float on into the abyss and never reach anything. So it’s important to know what pushes YOU too, and then setting up the appropriate check points to keep your goals on track.

And don’t worry if it changes over the years either – the more adaptable you can be, the more sane you’ll stay! Our priorities/thoughts are constantly changing and that’s okay. In fact, it’s better!

So there you have it… 4 new ways to categorize yourself today :)

Tell us below which you resemble the most, and then if you’d like even more ways to put off work today, here are some other quizzes you can take as well (you’re welcome):

I haven’t heard of South State Bank either and I live on NC, I’ll start looking for them though, I’ve just never paid attention.

Regarding the post though, I’d probably say I’m a rockstar or goalie. I have pretty good control over spending and an very deliberate and I also track and monitor expenses closely (down to the penny!). All effort is focused on my goal to retire early!

I would say that 80% of the time, I’m a goalie. Focused no hitting my savings rate goal each year and then ultimately my FI goal. I would think that most PF bloggers would fall in this category, I’ll be watching to see!

I always wondered why I’m better at paying off debt than I am at saving. I’m a goalie when it comes to debt-repayment – totally focused on the goal of debt-freedom – but I’m salt & pepper when it comes to savings. The advice to have “small, clear” savings goal is a good one. We were able to save and pay outright for a new roof a couple of years ago (not a “small” goal, but definitely clear), and that really did feel great. We now have a full e-fund too. Long-term investing is happening, and as our vision of financial freedom becomes sharper, it’s becoming a “clear” goal too. Just like paying off small debts first gives a psychological preparation for the bigger debts, achieving smaller savings goals seems to do the same thing. OK, now I’m a goalie for savings too : )

I’m about a 50/50 mix between Goalie and Rock Star. While I love to think long term, I limit that level of thinking so I can focus more on being grateful for the moment. My fiancee and I are heading in the right direction, and that’s all we need to know to make us happy about our finances.

I am definitely a Rockstar Goalie. My main goal is FI so my strategy to save is for that long term goal…unless a nice property comes along that I have to buy! I need an AA group for Real Estate. She’s burned me before but like a moth to a flame I keep flapping my wings closer to the fire…

I want to say Rockstar, but probably Goalie would be a better fit. I’m a bad Goalie in the sense that I need to define more goals more clearly. Retirement is too broad, but that (and killing my mortgage!) are about all it takes to keep me motivated.

I’m a goalie but honestly I wonder if I’m making my life worse. I get so focused on achieving that it becomes all consuming. I have been forcing myself to stop thinking about progress and start thinking about what is going on in the present. because good or bad all we can rely on is today and I don’t want to miss these moments being so consumed with the future. I firmly believe that living each moment is the purpose of life and I don’t want to miss any of it. I’m not saying be irresponsible and blow it all, I’m saying mindset matters most, still plan for the future but set it and forget it, don’t live for that day, live for now because if you are lucky enough to see retirement you wont want it to be at the expense of your life and attention now.

its tough for me too. I’m probably no better at it than anyone else, When I feel that anxiety is taking over I just try to breath and remind myself that this moment is all we are promised. It helps you appreciate here and now. Even if that is a screaming baby or a kid crying, it somehow seems less frustrating when you view it as just part of life and no less valuable than sitting on a beach enjoying the day.

Mr. Mt was pure Magician when I met him, now maybe 50% mixed with Salt and Pepper. I’ve been a Rockstar-Goalie my entire life. We help each other out. I’m working on a post how his new beautiful classic car in the end was the savings from not having cable. Now he almost threw a fit when we were first married and I said no to cable. But now he looks very very happy in that car. Team work baby!

I resonate with the salt + pepper persona. Maybe if i didn’t budget fun stuff into my savings, then I’d be more of a rockstar or goalie. Everything in moderation, including savings. That’s me, but better than being the magician!

I’m split between salt + pepper and a goalie. I agree with Matt B, everything in moderation. While I want to be set in retirement and have financial independence I want to live and enjoy myself now too. You never know when your last day might be. Is the 25 cents I lost in the couch worth the 20 minutes I’d have to search for it? Probably not. Is retiring at some point with my current lifestyle worth not eating out every day.. Probably.

Proud to declare myself a goalie with a bit of magician in there too. I know that sounds funny since they are at the opposite ends of the spectrum, but it’s the most accurate. I save aggressively most of the time, but sometimes splurge on unnecessary expenses like a magician.

Definitely the goalie. I typically save into buckets. If I want to buy something, I like to budget it out months in advance. Small bits of savings here and there and suddenly, I have a pile of cash waiting for me!

Probably more of a rockstar than anything out of the four. What about someone who is OCD about saving and has a mental disorder where spending feels like a bad thing to do in almost every circumstance? What’s the word for that lol

But as someone who actually does have OCD (nothing too extreme, though it does flair up under pressure), I wouldn’t be surprised if that was “a thing.” Or at least touching money since we all know how disgusting it is :)

We’re in NC too and never heard of South State Bank. We’re definitely goalies. Maybe there’s a subconscious connection to Mr. G’s ice-hockey playing days, but we function best with a specific end-game in mind. We had a 3-year countdown to save to get out of NY and now a 2-year countdown to quit our jobs.

I’m a reforming magician working to become a goalie. I’ve done OK saving for retirement, but we’re at the point now of saving to build a house, and retirement has become relevant – instead of something that will happen “someday”.

When we were paying off debt and had a lot of big short-term financial goals (i.e. huge tuition checks being written twice a year), I was 100% goalie. Now that we’re debt free besides the house and still have money left over after paying a double mortgage payment, my salt+pepper shows a little bit.

I used to be the Rock Star but now I’m the Goalie. Unfortunately, my husband is more magician and expects me to work the magic of being able to save while he spends. I think he thinks I have secret money or make more money than I actually do (I’m not sure why he would think this. He knows I am a public school teacher).

I definitely used to be a magician when I was younger, because as soon as I got paid **poof** all my money would disappear for clothing or food or trips! Now I would fall under salt and pepper category. Hopefully as I get better at saving and budgeting, I will begin to lean towards the rock star or goalie category!

Great Post! I would have to say I would fall under Rockstar. I like to keep track of all my money to ensure I stay on track with paying off my student loan debt. Once I pay it off I can see myself falling back to Salt + Pepper to enjoy some free spending.

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I, J. Money, only claim the thoughts from my head. I am not a banker, CPA, money manager or anything else of that sort. Please seek a professional for any "real" advice. More info: privacy & disclosure page